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RE: STEEM Breakout Imminent?

in #steemit6 years ago

Big fan of your optimism, but I do have a hard time putting much weight on any of these chart / trend analysis posts.

However, I would agree that there is definitely some excitement coming down the line w/ SMT's, Hivemind, and additional listings (more opportunity for trading on such a huge listing, I would imagine, would create lots of attention and opportunity). I definitely appreciate you drawing attention to these upcoming events rather than just pure TA.

I think these are the more important/tangible/quantifiable factors to look at, rather than any form of historical performance. All that TA stuff just looks like people drawing dots and making connections where there might not be anything, and a lot of it is closely tied to BTC action, isn't it?

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As crypto market matures, a lot of it would be subject to automated trading and algorithms. As it is right now, it's still a very news-sensitive market and very easy to manipulate (for various reasons). But I do weigh in a certain TA factor to the price movement. Not as much as it is in FOREX or stocks, but a certain part of the trends can be sketched with TA.

I'm not saying TA is the answer, I'm saying TA can successfully supplement other indicators (like news, team development information, etc).

I've definitely seen the 'pump and dump' manipulation happen a few times now (I'm pretty new to the scene), so I definitely believe that things are very news sensitive.

I'm not saying TA is the answer, I'm saying TA can successfully supplement other indicators (like news, team development information, etc).

Good clarification -- and I think the term supplement is something that more people should pay attention to -- so thanks for that. There's a lot of TA charts on here that don't have anything attached with them. It's nice to see someone that has done their homework.

Speaking of homework -- I suppose I should learn a little bit about the theory behind TA before I dismiss it too much, because quite a few people do claim that it has validity.

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